Pepe breaks joint venture (JV) with 'Dollar Industries'
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23 November 2021, Mumbai:
Pepe Jeans Innerfashion has decided to exit the 50:50 joint venture with Dollar Industries in India, by selling its stake to GOAT Brands. Accordingly, the existing JV agreement between Pepe and Dollar would stand terminated on the transfer of shares by Pepe to GOAT.
Due to the proposed stake sale by Pepe to GOAT, Dollar would be entering into a new JV agreement with GOAT.
GOAT, which stands for Greatest of All Time, is a start-up modeled on the Boston-based e-commerce start-up Thrasio which acquires small merchants and brands on leading e-commerce platforms and helps grow their business.
When Pepe Jeans entered India in 1989, the brand focused on denim and casual wear for men and women. After 16 successful years in the Indian market, Pepe Jeans decided to foray into the children’s category.
Dollar is an innerwear brand. Its ultra-premium innerwear brand Force NXT is designed as per the international fashion trend which is very new in the Indian innerwear market.
It offers value-based men’s inner wear with innovative fabrics and exceptional quality. Core customers are youth and adventurous men who love experimenting and exploring with the fashion convention. Innovation has always been its key growth driver.
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